Smart Advisor Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2031

The smart advisor market size is projected to reach US$ 33.39 billion by 2031 from US$ 5.95 billion in 2023. The market is expected to register a CAGR of 24.1% during 2023–2031. Personalized planning based on AI-driven insights is likely to remain a key trend in the market.

Smart Advisor Market Analysis

The smart advisor market has witnessed significant growth in recent years, steered by innovations in artificial intelligence (AI) and machine learning (ML) technologies. Factors such as increasing adoption of digital platforms and the huge penetration of mobile devices are driving the smart advisor market growth. Increasing demand from the BFSI industry is anticipated to provide growth opportunities for the global smart advisor market in the coming years.

Smart Advisor Market Overview

Smart Advisor is a digital platform for investor communication that helps financial advisors communicate more effectively and efficiently. Smart advisor is a delivery system that enables investment professionals to access and deliver relevant documents to investors for marketing, sales, compliance, and regulatory communications. Smart Advisor saves huge time and money for corporate firms by enabling advisers to transmit any document to clients.

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Smart Advisor Market: Strategic Insights

Smart Advisor Market

• 
  CAGR (2023 - 2031)

  24.1%
• Market Size 2023
  US$ 5.95 Billion
• Market Size 2031
  US$ 33.39 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing adoption of digital platforms, and huge penetration of mobile devices.

FUTURE TRENDS

• Personalized planning based on AI driven insights

OPPORTUNITIES

• Increasing demand from the BFSI industry

Key Players

• Artificial Solutions
• Creative Virtual Pvt Ltd
• CX Company
• eGain Corporation
• IBM Corp
• iDAvatars IDA
• Ivanti
• Next IT Corporation
• Nuance Communications Inc
• Speaktoit Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Offering

• Software
• Services

Application

• Investment Advice and Customer Support

End-use Industry

• BFSI
• Healthcare
• Retail & E-commerce
• Consumer Electronics
• Education
• Government
• Hospitality

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Smart Advisor Market Drivers and Opportunities

Increasing Adoption of Digital Platforms to Favor Market

In a technology-driven world, adoption of smart and intelligent methodologies in financial management are necessary. In such a scenario, the financial advisory industry is increasingly moving towards smart financial services. This demand also is largely promoting growth in the global smart advisor market. Moreover, digital transformation has changed the way the financial industry operates. Increasing adoption of digital platforms in the financial industry increases the adoption of smart advisors among consumers. By embracing smart advisors, organizations can enhance customer satisfaction, improve engagement, and meet the evolving demands of today's digital-savvy consumers.

Increasing demand from the BFSI industry

Nowadays, consumers do not have time to maintain their own finance due to busy schedules & other professional tasks. Estimating financial goals, finding suitable products, and arriving at suitable allocations to various assets requires specific expertise and skills which may not be possible by common people. Moreover, financial planning is a dynamic process, and it requires huge attention due to changing market situations. As financial planning requires time &  attention, to meet the future needs, many people were increasingly adopting smart advisor solutions.

Smart Advisor Market Report Segmentation Analysis

Key segments that contributed to the derivation of the smart advisor market analysis are offering, application, and end-user industry.

• Based on offering, the smart advisor market is divided into software and services. The software segment held a larger market share in 2023.
• By application, the market is segmented into investment advice and customer support. The investment advice segment held a larger market share in 2023.
• In terms of end use industry, the market is segmented into BFSI, healthcare, retail & e-commerce, consumer electronics, education, government, hospitality, and others. The BFSI segment is expected to grow with the highest CAGR over the forecast period.

Smart Advisor Market Share Analysis by Geography

The geographic scope of the smart advisor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The North American smart advisor market is a rapidly growing sector that is driven by technological advancements and the increasing demand for personalized and efficient customer experiences. North America, which includes countries such as the United States and Canada, is known for its strong technological infrastructure and high adoption rates of digital solutions. North America has been identified as a region with high adoption rates of smart advisor technologies, particularly in the software sector. The region has a well-established market for AI and ML technologies, which form the backbone of smart advisor systems.

Smart Advisor Market Report Scope

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Smart Advisor Market News and Recent Developments

The smart advisor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart advisor market are listed below:

• Betterment, a leading digital investment platform, has recently launched its new Tax-Smart Transitions features tailored specifically for financial advisors. This new offering aims to simplify and optimize the tax transition process for advisors and their clients when transitioning portfolios. The Tax-Smart Transitions features developed by Betterment utilize advanced algorithms and tax optimization strategies to minimize the tax impact during portfolio transitions. Advisors can now seamlessly transition clients' investments while considering tax implications, ensuring a more efficient and cost-effective process (Source: Betterment, Press Release, June 2023)
• GrainFox, a leading technology company, has recently launched its innovative Smart Advisor platform. This platform leverages machine learning and AI technologies to provide advanced advisory services to its users. The introduction of this platform marks a significant milestone in the company's commitment to delivering cutting-edge solutions to its clients. The Smart Advisor platform developed by GrainFox is designed to offer personalized recommendations and guidance to users in various industries. By examining immense amounts of data and leveraging sophisticated algorithms, the platform can provide valuable insights and actionable advice to help users make informed decisions. (Source: GrainFox, Press Release, February 2023)

Smart Advisor Market Report Coverage and Deliverables

The “Smart Advisor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Smart advisor market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Smart advisor market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Smart advisor market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart advisor Market
• Detailed company profiles